Rapti Hydro and General Construction (RHGCL) Closing 6,12,793 Units IPO for Locals Today

Rapti Hydro and General Construction Limited (RHGCL) is closing the IPO issue of 6,12,793 units worth Rs. 6.12 crores to the project affected locals of the Rukum (Eastern and Western districts) from today i.e Ashad 10, 2079.

The company has been issuing 6,12,793 shares at a par value of Rs. 100 per share for the project affected locals from 24th Jestha and was supposed to conclude on 7th Ashad. However, the issue was unsubscribed and the deadline was extended till today i.e 10th Ashad, 2079. The locals of the Rukum (Eastern and Western districts) can apply for a minimum of 10 shares to a maximum of 6,00,000 shares.

As per CDSC, the issue has attracted 4,79,220 units demand from 2941 applicants till today morning. 

Siddhartha Capital is appointed as the issue manager for the IPO issuance.

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) to Rapti Hydro and General Construction Limited (RHGCL). Companies with this grading are considered to have high risk of default regarding timely servicing of financial obligations.

Rapti Hydro & General Construction Limited is a public company incorporated on Kartik 5, 2065 (October 21, 2008) as per Companies Acts 2063, Nepal with the objective to develop and invest in hydropower projects. It is currently developing a 5 MW Rukum Gad Hydropower Project in Rukum East District and owns its Electricity generation license. The Project is located at Sisne and Bhume Gaunpalika of Rukum East District. Its registered office is located at Kathmandu-11, Bluestar Complex, Tripureshor.

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